It was 25 years ago that 34 blue chip companies clubbed together to form a new insurance company, with its operating headquarters in Bermuda, to meet a demand for excess liability insurance in the United States.

That company was Ace Ltd. and in the quarter of a century since, it has evolved into a global giant of the property and casualty insurance industry, with a presence in 53 countries and total assets of almost $78 billion.

There is no greater corporate success story in the history of the Bermuda insurance market.

Yesterday, the company held an employee celebration at its Woodbourne Road offices, as part of of its global 25th anniversary celebrations.

Ace's senior management team is in Bermuda as one of the stops in a global roadshow. They will be meeting with clients and brokers in 18 cities.

Two years ago, the company moved its corporate domicile from the Cayman Islands to Switzerland, a move that some feared would demote the Bermuda operations in the Ace Group pecking order.

But today, the company continues to employ more than 200 people on the Island and is a major operator in the Bermuda market, particularly through its Ace Bermuda insurance unit and its Ace Tempest Re reinsurance company.

Ace chairman and chief executive officer Evan Greenberg told The Royal Gazette yesterday that the Island would remain significant to the group.

"Bermuda is an important place for Ace," Mr. Greenberg said. "It's not only where we were born, but it has been and remains an important home to the company.

"We have a lot of asset here and we have two important businesses here."

The roadshow kicked off in September and has been to Philadelphia, Atlanta and Hong Kong, before arriving in Bermuda this week. New York and Boston will be the next ports of call.

Further events are planned for other cities in the first half of 2011.

Another activity was the global day of service that Ace held on October 22 where more than 7,500 employees in 46 countries participated in 200 projects around the world.

In Bermuda, 120 employees completed 11 projects with local charities.